TAFE targets 200,000 tractor sales in FY26

Mumbai: Tractors and Farm Equipment Ltd (TAFE) is targeting tractor sales of over 200,000 units in FY26, up from about 175,000 in FY25. The company is expected to outpace overall industry growth, supported by a series of new product launches and expanded manufacturing activity at key facilities, according to people aware of the company's plans.

In May, TAFE reported 17,767 tractor sales, with 12.4% growth in domestic markets and 24% growth in exports from the year before, significantly ahead of the industry average of 9% and 1%, respectively, the people said.

To support future growth, TAFE is rolling out several new products from its manufacturing base in Tamil Nadu, including a six-row paddy transplanter, a track harvester for both domestic and export use besides making tractor cabins.

Separately, the Deutz engine programme at TAFE's Alwar plant is on track. This is expected to be a key growth driver for the company's engines business, which is projected to cross 130,000 units by FY28, up from around 70,000 units in FY25, according to the people cited above.

TAFE said on Tuesday it had secured exclusive brand ownership of Massey Ferguson in India, across a wide product and technology spectrum, including electric tractors, implements, harvesters, driver cabins, telematics, drones and precision agriculture services.

"TAFE would like to thank our board of directors, the TAFE team, our lawyers and senior counsels, our advisors and our shareholders," the company said in a statement.